The crypto giant Binance has recently announced the launch of their Japan-based exchange, Binance Japan, which is said to be operative in June. With this move, Binance would become the second-ever foreign crypto exchange to receive a license in the country. The announcement has been met with enthusiasm by the cryptocurrency community, as this marks the first transition of a major Bitcoin exchange into full-fledged, legally-registered company. The exchange also announced a partnership with a local Japanese company which would be their strategic partner, who is responsible for compliance with local regulatory instructions.

The move shows that the Japanese cryptocurrency industry is ready for a major transition, and that this transition is about to become a reality. It further adds to the fact that the Japanese government is taking a pro-cryptocurrency stance, as it stands to be one of the first countries to regulate the use of virtual currencies on a national level. Currently, cryptocurrencies are still considered as “assets not subject to legal protection” in Japan, but this step by Binance is a stride towards proper regulation.

Binance is not the only major participant in this Japan exchange race. The big player in the race, Coinbase, is also taking part, as it has recently announced the opening of an office in Japan. This opened the door to opportunities for Coinbase to become the first overseas exchange in Japan. Coinbase has not yet been granted the license, yet speculations are that it may receive the nod of approval sometime soon.

The move by Binance is a sign that the Japanese regulatory environment is likely to become one of the more welcoming governments in the cryptocurrency domain. To top this off, Japan has a large population, as well as an economy that is primed for adaptation and change. This means that the company may be looking at a successful launch and a long-term business advantage.

Considering the enthusiasm which followed the announcement of Binance’s plans for a Japanese exchange, this is seen as a strong signal that the country is open to new opportunities and willing to straddle between the conventional banking sector and cryptocurrency. As this progresses, many believe that countries like South Korea, Singapore, Taiwan and other large economy countries would be the next in line for a Binance exchange.

Binance is always looking for new opportunities to expand their customer base and garner more international recognition, so launching a licensed exchange in Japan puts them at the forefront of conquering the international landscape. This move would the first legal step in paving the way to further cryptocurrency adoption across the world. All eyes are now on Binance to see which country they will set their sights on next.

The cryptocurrency giant Binance is set to launch their Japan-based exchange, Binance Japan, in June. This will be the second foreign cryptocurrency exchange to receive a license in Japan, closely followed by the opening of a Coinbase office. The move is being met with excitement, as it stands to be the first step of a major Bitcoin exchange becoming fully legalized. The Japanese government is also taking a pro-cryptocurrency stance, and this is a stride towards providing legal protection to virtual assets on a national level. Other countries are now closely following the developments in Japan, which has the potential to be a major launchpad for Binance's global expansion. The impending launch of Binance Japan is further evidence of the country's openness to new opportunities and its willingness to break the barrier between the banking sector and virtual currencies. It is now just a matter of time to see where Binance will direct their next venture.



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